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The Mathematical Finance and Actuarial Science Master's program at TUM provides rigorous training in stochastic analysis, mathematical finance, and actuarial science specializations. Students select one specialty but gain knowledge of both areas, complemented by economics and interdisciplinary modules. Graduates are equipped to model, analyze, and develop financial and insurance sector questions and apply solutions in practice. Professional paths include risk management, portfolio theory, auditing, actuarial science, tax advisory, and financial controlling. See the official program documentation for comprehensive details.
#86
#3
Public
Germany
Garching
Bavaria
No
2 years
4 Semester
Winter
120 ECTS
Full Time
General Requirement: TOEFL, IELTS, PTE Academic – exact scores should be checked on official TUM admissions page; typical requirements: TOEFL iBT 88, IELTS 6.5 (see https://www.cit.tum.de/en/cit/studies/degree-programs/master-mathematical-finance-actuarial-science/, https://www.tum.de/en/studies/application/application-info-portal/online-application)
IELTS/TOEFL: TOEFL (iBT): 88. IELTS: 6.5. (see TUM admissions link)
German Grade: N/A
not found
N/A
Not required
Degree certificate/diploma, subject and grade transcript, transcript of records, curriculum/module descriptions, proof of English proficiency, grade calculation form, motivation letter (in English), CV, passport, Preliminary Documentation (VPD) if degree obtained outside Germany. Additional documents may apply depending on educational background/country of origin. Verify on TUM portal.
Tuition Fee (Non-EU): Freeper Semester
Tuition Fee (EU): Freeper Semester
Semester Contribution: 85
• No tuition fee; only semester contribution applies (see https://www.tum.de/en/studies/fees/ and program page)
Winter: Winter Semester only. Typical window: June 1st – July 15th (see https://www.tum.de/en/studies/application/application-info-portal/online-application and DAAD listing). Please confirm on TUM central admissions page.
Summer: N/A
Spring: N/A
Autumn: N/A
All information verified from authoritative program page and central admissions pages. Official TUM semester contribution link: https://www.tum.de/en/studies/fees/.
Deadline: Typical application window: June 1 – July 15, Winter intake only. Confirm on TUM portal.
DeadlineLink: https://www.tum.de/en/studies/application/application-info-portal/online-application
ApplicationDeadlineLinkSecondary: https://www.tum.de/en/studies/fees/